# Financial Math Trivia Quiz! Test

8 Questions | Total Attempts: 52  Settings  .

• 1.
Monwabisi invests R25 000 for 5 years at 12% per annum, compounded annually. Determine the amount that he will receive after 5 years. (round off to the nearest rand)
• A.

44058

• B.

762

• C.

44059

• D.

3923

• 2.
Calculate the value of an investment of R10 000 that earns simple interest of 6.75% per annum over 6 months. (round off to the nearest rand)
• A.

10335

• B.

10328

• C.

9949

• D.

10338

• 3.
A particular car was bought for R75 000. What will the book value of the car be after 5 years if the rate of depreciation is 16% per annum, where the depreciation is based on the straight-line method. (round off to the nearest rand)
• A.

15005

• B.

14900

• C.

15000

• D.

15765

• 4.
A loan of R100 000 is repaid over 20 years by means of equal monthly installments starting 1 month after the loan was granted. The interest rate is 15% per annum compounded monthly. What is the future value of the loan over 20 years. (round off to the nearest rand)
• A.

199847

• B.

257698

• C.

1971549

• D.

589362

• 5.
A man wants to make an investment that will be worth R50 000 after 10 years. What amount must he invest now if interest is calculated at 12% per annum compounded annually. (round off to the nearest rand)
• A.

16989

• B.

16099

• C.

16199

• D.

16009

• 6.
An amount of x rand was invested at an interest rate of 12% per annum compounded quarterly. After 5 years the investment has grown to R1 806.11. Calculate the value of x correct to the nearest rand.
• A.

1000

• B.

1010

• C.

998

• D.

2589

• 7.
Fausia and Nonhlanhla each have R1500. Fausia invests her money for 5 years at 10 % per annum compounded monthly. Nonhlanhla invests her R1500 for 5 years at 10% per annum compounded half-yearly. What is the difference in their accrued amounts at the end of the 5 year period? (round off to the nearest rand)
• A.

102

• B.

56

• C.

16

• D.

25

• 8.
Karabo's investment grows from R7000 to R9304.60 in a period of three years. Interest is compounded quarterly. What is (a) the effective interest rate on investment and (b) nominal interest rate on investment. (round off to 2 decimal places)
• A.

9.60%; 9.54%

• B.

9.60%; 9.95%

• C.

2.4%; 2.52%

• D.

3.57%; 7.24%

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